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Friday, April 09, 2004

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SC upholds Securitisation Act — Banks win freedom to sell mortgaged assets
THE Supreme Court today upheld the constitutional validity of the Securitisation Act thereby allowing banks and financial institutions to sell assets of defaulting borrowers that have been attached under the Act. The court, however, quashed as ... More

Vindicates our stand on deposit issue: Mardia
THE man who dons the dubious tag of the Indian banking industry's leading defaulter, Mr Rasiklal S Mardia has always had a penchant to view things differently. Even as the Supreme Court upheld the validity of the Securitisation and ... More

High NPA bank stocks show buoyancy
SHARES of banks and financial institutions, especially those with high NPAs (non-performing assets), shot into the limelight on Thursday following the `historical judgment' by the Supreme Court in the Mardia Chemicals and ICICI Bank case. Banks ... More

Dual benefit for creditors: Morparia
REACTING to the Supreme Court order upholding the Securitisation Act, the Deputy Managing Director of ICICI Bank, Ms Kalpana Morparia, said: ``Although I have not seen the judgment, this is a landmark judgment in favour of creditors. There is a ... More

Infosys plans to recruit 500 in US — Floats consulting subsidiary in Texas
SOFTWARE major Infosys Technologies Ltd, which on Thursday announced it has floated its US consulting subsidiary, plans to recruit 500 professionals in the US over three years. It feels such job creations would defuse outsourcing backlash to ... More

`Bonus shares by tech cos to have short-term impact'
WIPRO stocks are likely to rise on the back of its plan to consider a bonus issue of shares. However, the positive sentiment due to the bonus issue is likely to be in the short term since earnings momentum or P/E multiples will not be ... More

Securitisation Act needs a lot more fine-tuning: India Inc
THE Supreme Court's decision on the Securitisation Act has received mixed response from corporate sector. While welcoming the Court's decision to strike down the provision in the Act, which made it mandatory for the companies to deposit 75 per ... More

Wipro board to consider bonus issue
BANGALORE: Wipro Ltd has informed the BSE, NSE, and other listing authorities that its board is meeting on April 16 to consider the issue of bonus shares, recommending dividend and to consider and approve the audited accounts for the year ... More

NDA vows to make India economic superpower
THE National Democratic Alliance (NDA) on Thursday promised to ensure 8 to 10 per cent GDP growth rate on a sustainable basis over the next five years with eradication of poverty by 2015, besides underlining its commitment to making "India an ... More

ICICI Bank issue price at Rs 280 per share
ICICI Bank has announced an issue price of Rs 280 per equity share for the Rs 3,050-crore public issue. The issue, which closed on Wednesday, has been subscribed approximately 4.2 times at this price level, said a press release from the ... More

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